Rep. Ives: Bankruptcy May Be Only Option For Some Illinois Cities

Craig Dellimore
May 03, 2018 - 3:30 pm

photo provided by Jeanne Ives

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CHICAGO (WBBM NEWSRADIO) -- She lost the Republican primary for Illinois governor, but state Rep. Jeanne Ives is still campaigning on issues she says are vital for conservatives in Illinois.

Ives on Thursday was sounding the alarm about crushing pension debt in municipalities like Harvey, Rockford and Danville. She says the only solution may be to allow cities to reduce or restructure their obligations by declaring bankruptcy. She has introduced such a  measure.

She concedes some retirees could have their earned benefits cut -- a move she calls unfortunate but necessary.

"In four years, when Chicago to double the amount they're paying toward pensions -- and eats up 25 percent of the General Revenue Fund, if not more -- then this will all come to a screeching halt."

Ives warns this crisis is going to come to a head, unless lawmakers and local officials do something.

She ran a bitter primary campaign against incumbent Gov. Bruce Rauner, but indicated she will vote for him in the general election.

To hear to the full conversation with Jeanne Ives, listen below.